Lemminkäinen to start housing construction in Jätkäsaari district of Helsinki



Lemminkäinen Group's Oy Alfred A. Palmberg Ab is to start building the
Jätkäsaari district of Helsinki. The City of Helsinki is leasing a plot to Oy
Alfred A. Palmberg Ab for the private-sector production of rental housing and
two plots for the private-sector production of owner-occupied housing subject
to the price and quality controls of the Hitas scheme. The City of Helsinki is
also selling the company four plots for its own housing developments. The
decision was made at a meeting of the city's Real Estate Committee on 18 August
2009, and still requires approval by Helsinki City Council to come into force. 

The Saukonpaasi area of Jätkäsaari has almost 40,000 square metres of building
rights, enabling the construction of approximately 400 housing units. 

Development of the area will commence immediately with an architectural
competition. Private-sector rental housing will be built on the first block
slated for development. Its construction will begin in autumn 2010. This will
be followed by two private-sector developments of owner-occupied housing based
on the Hitas model.  When completed, Saukonpaasi will in-fill and complete the
urban structure of the area on both sides of Ruoholahti channel. 

"You won't find better plots than the Saukonpaasi area anywhere in Helsinki.
Located downtown beside the sea and Ruoholahti channel, the area has excellent
public transport connections by tram and metro, and is within walking distance
of the services at Ruoholahti shopping centre. Together these factors make
Saukonpaasi a very pleasant and functional residential area," says Pauli
Mäkelä, the Managing Director of Oy Alfred A. Palmberg Ab. 

Saukonpaasi overlooks the sea on three sides. It will be possible to build
apartments with balconies enjoying sea views and the sunset. Sheltered parking
will be provided for the building residents. The shoreline of the channel in
front of the buildings is designated for boat moorage in the city plan. 

Lemminkäinen Corporation
Corporate Communications

Additional information:
Pauli Mäkelä
Managing Director
Oy Alfred A. Palmberg Ab
Tel. +358 2071 53426 or +358 400 407 508

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Lemminkäinen Group operates in all areas of the construction sector. The
Group's business sectors are building construction, infrastructure
construction, technical building services, and building products. Net sales in
2008 were approx. EUR 2.5 billion, of which international operations accounted
for over a quarter. The Group employs about 9,800 people. Lemminkäinen
Corporation's share is quoted on NASDAQ OMX Helsinki Ltd. www.lemminkainen.com 

Oy Alfred A. Palmberg Ab is a subsidiary of Lemminkäinen Group's Lemminkäinen
Talo Oy. The company engages in competitive tender contracting for new
construction and refurbishment as well as its own developments of commercial
and industrial buildings. The company is Finland's oldest building firm. It
operates in the Greater Helsinki Area. In 2008, Oy Alfred A. Palmberg Ab
generated net sales of approx. EUR 184 million and employed some 270 people.